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Tyvole

POW systems and Climate Change !

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Am I the only one surprised that this never really enters the conversation when cons of certain blockchain systems are mentioned? Even Brad  always mentions CPT or TIME as major con. when using bitcoin.

Seriously In my opinion most drastic con of bitcoin /  litecoin and alike is ENOURMOUS WASTE OF ENERGY WHEN WE DEAL WITH CLIMATE CRISIS ! We need to shine more light on this issue. Its totally ignored.

Its making me mad to the bone.

I dont give a f* about argument of how much banking and their inefficient energy  use (Empty skyscrapers/transfer of money in sec vans etc.) is currently costing us and that BTC or other POW systems cost us maybe less (who knows at this point). You dont strive to replace one inefficient tech with another less inefficient tech when you have efficient SOLUTIONS AT HAND!!!!!!! 

Seriously, Never seen this mentioned in corporate or bussiness discussions !!!

What is your take on it and how would you begin to change this?

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Just now, aye-epp said:

I only follow this topic loosely but sounds like most of that energy comes from renewable sources.

Well that is just not f*** true.  Some is from clean energy sources bud  - Main source is coal power plants in china, weakly regulated and totally not implementing latest cleaner standards used for instance in german coal power plants. And even clean energy used from hydro pp , should not be wasted on POW systems when same area is competing with fossil fuels!

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Yes agree POW is a terrible waste of energy. Whenever I raise this in other forums the responses are vitriolic. The way I see it is that even if one uses renewables it's still a waste. I have some coins on the Ethereum Blockchain which I bought without doing sensible research, never owned BTC and will dump for a loss if Casper does not arrive soon.

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1 minute ago, Phintech said:

Yes, it’s a horrific waste of resources, especially for a technology that has proven it will never scale.  Even the maxi’s have abandoned the payments use case for store of value.  POW should be killed off.  

I dont think people even know how much of a waste it is, AND WHAT IT ACTUALLY ACCOMPLISH THIS ( MINING ) , they have no idea. They see only MARKET CAP + TOKEN PRICE, thats as deep as most people go, bud we that know about how it functions are RESPONSIBLE TO put this point thru their thick heads cause we DONT HAVE LUXURY of wasting energy!  Period.

During some time there was wave of news about this exact thing, You might have seen "bitcoin uses as much energy as Iceland/Denmark or similar headline"  bud it just goes awaaay as more exiding price moves or political game goes to the front, WE NEED TO BRING THIS ISSUE BACK TO THE TABLE. Every session with Brad, every single panel on blockchain should dedicate time to this problem.

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It is a waste. I love the argument when people say that part of bitcoin's value is due to the cost of mining. Maybe lobotomies are still legal in much of the world.

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BoE, in their recent press statements about crypto & DLT have made it clear that climate change and sustainability are their top priorities for emerging fintech.  They don't go as far as naming names but if you read between the lines you can see they are referring to BT4C  (bitCentralizedChineseCoalCoin).

 

I think IMF may have been dropping similar hints.

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Posted (edited)
7 minutes ago, invest2lose said:

Imo this is unnecessary fud. Much of it comes from renewable resources and plus theres many other useless things that waste more energy. In the grand scheme of things its small. 

FUD ? How is it FUD? We talk about what is important here, This forum is not About government policies on power/ transportation etc, This is XRP CHAT forums, so i talk about Blockchain and its energy impact. So its relavant to THIS FORUM and thats why I POSTED IT HERE.

 Aside from that, Most of it its not from renewables and even if it would I already adressed that point.

Also think about it at scale, if BTC hits 100k next week, Its not small even in grand scheme of things. We always had increase in HP when price goes up. Also much of the hardware once obsolete (and its getting obsolete fast) is thown away and not many parts are reused..

 

 

If you think by this post i want to increase price and create trashtalk on btc .... seriously ? You think This would have any impact ? LOL ,, common . There are some people naive like that bud I aint one of them. I dont plan to retire on crypto like some people do haha.

Edited by Tyvole

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17 minutes ago, Tyvole said:

FUD ? How is it FUD? We talk about what is important here, This forum is not About government policies on power/ transportation etc, This is XRP CHAT forums, so i talk about Blockchain and its energy impact. So its relavant to THIS FORUM and thats why I POSTED IT HERE.

 Aside from that, Most of it its not from renewables and even if it would I already adressed that point.

Also think about it at scale, if BTC hits 100k next week, Its not small even in grand scheme of things. We always had increase in HP when price goes up. Also much of the hardware once obsolete (and its getting obsolete fast) is thown away and not many parts are reused..

 

 

If you think by this post i want to increase price and create trashtalk on btc .... seriously ? You think This would have any impact ? LOL ,, common . There are some people naive like that bud I aint one of them. I dont plan to retire on crypto like some people do haha.

Relax buddy im just giving my 2 satoshis. Im just saying theres more things to worry about with regards to climate change than targeting bitcoin and its energy usage. look at how much energy we waste mining physical gold. 

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